______________________________ Is a Technique for Ranking Inventory Items in a Group

question 20

Short Answer

______________________________ is a technique for ranking inventory items in a group based on the value, activity, sales, or other relevant metric for the items..

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Definitions:

Customary Pricing

Setting prices based on what is traditionally expected or accepted within a market or by customers.

Target Pricing

A pricing strategy where the selling price of a product is determined based on the anticipated consumer demand and desired profit margin, often before the product is launched.

Unit Variable Cost

The cost associated with producing one additional unit of a product, which includes costs that vary directly with the production volume, such as raw materials and labor.

Fixed Cost

Expenses that do not change with the level of goods or services produced by a business, such as rent or salaries.